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Spectral Medical Inc T.EDT

Alternate Symbol(s):  EDTXF

Spectral Medical Inc. is a Canada-based late-stage theragnostic company advancing therapeutic options for sepsis and septic shock. The Company develops and commercializes a treatment for septic shock utilizing its Endotoxin Activity Assay (EAA) diagnostic and the Toraymyxin therapeutic (PMX). PMX is a therapeutic hemoperfusion device that removes endotoxin, which can cause sepsis, from the bloodstream and is guided by the Company’s EAA. PMX is approved for therapeutic use in Japan and Europe and has been used safely and effectively on more than 340,000 patients to date. It has pioneered the development of biochemical markers for the clinical syndrome known as septic shock. It is continuing its legacy business of manufacturing and selling certain proprietary reagents. It develops, produces and markets recombinant proteins, antibodies and calibrators. These materials are sold for use in research and development, as well as in products manufactured by other diagnostic companies.


TSX:EDT - Post by User

Post by mercedesmanon Aug 13, 2021 5:20pm
239 Views
Post# 33704845

Encouraging - corrected

Encouraging - corrected
I especially like this paragraph in the MD&A

Furthermore, the trial results indicate that for patients where no bacteria could be identified by culture yet were highly endotoxemic (approximately one third of the n=194 group), treatment with the PMX cartridge had a 28-day mortality of 21% versus 42% for the sham group (p=0.046), a relative risk reduction of 50%. These patients appear to be at higher risk for mortality, with endotoxemia likely due to translocation of endotoxin from the gastro-intestinal system. With no microbiology targets to treat there are fewer options left to help these patients.

So not only can Tigris score by confirming the 10% benefit (of PMX vs Sham) for the .6 to .89 group, there is another sub-group that could benefit (perhaps to a much higher degree). I wonder if the Bayesian nature of the Trial will help to shed more light on this ?

Such elaboration in teh MD&A is exciting and quite overdue (at least as far as letting potential investors know).  Too bad it isn't discussed outside of that very much.

Imagine also if we get a representative sample on abdominal translocation patients as well. Although, some believe that the "non-culturable" cohort that Euphrates demonstrated 50% realtive risk reduction, dovetails exactly with the Euphas Trial (abdominal based) that was halted early due to ethical reasons (ie. results were too good - so how can you deny the treatement to patient participants)

Dredgery is never drudgery.

In any event, it's almost as if there are many pathways to ultimate success on PMX alone (not counting the SAMI and DIMI markets).  So not only are their two ponies (PMX and Dialco) each pony knows multiple tricks, if you will. 

Perhaps all those newly minted US investors fully appreciate all this, and have factored it into the price they were willing to pay for the shares.

OR Perhaps all those newly minted US investors don't know all this exciting stuff about PMX? Is that possible?  It is almost seems as if they wanted to be paid to hold onto the PMX pony?  The implied value of PMX (in these newly minted investors miinds) can be estimated as negative .27 . That is, .34-.61 =  today's share price less Spectral Dec 2020 presentation notional valuation of DIMI to a potential early equity/private investor)  Maybe this aversion to the PMX pony (fear of baby horses), or lack of understanding is in fact WHY some of these new US Unit investors, seem to be in a hurry to rid themselves of the shares.  Or once again, maybe all they cared about was those (very low cash outlay but highly sought after)  warrants?   Where's Walden when you need him to expalin what they are giving away? Did these newly minted, short term unitholders appreciate what they had, if only for a fleeting moment? Did they even read the Paradigm's report, the prospectus, the MD&A?

Bottom-line - I'm not a big fan of low-ball financings, sans a good marketing campaign, with warrants attached, and no restrictions/hold periods. It's not dancing with the ones that brung ya...and introduces a whole host of other problems.

But I sure like the prospects for the hidden gem (PMX).


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